NanoString Technologies (NASDAQ:NSTG) Trading Down 6.6%

NanoString Technologies, Inc. (NASDAQ:NSTGGet Rating) shares traded down 6.6% on Friday . The company traded as low as $12.38 and last traded at $12.55. 6,524 shares traded hands during mid-day trading, a decline of 99% from the average session volume of 751,282 shares. The stock had previously closed at $13.44.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Cowen set a $33.00 target price on shares of NanoString Technologies in a research note on Tuesday, July 19th. StockNews.com started coverage on shares of NanoString Technologies in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Canaccord Genuity Group decreased their price target on shares of NanoString Technologies from $50.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, April 13th. Robert W. Baird decreased their price objective on shares of NanoString Technologies from $35.00 to $30.00 in a research report on Wednesday, May 11th. Finally, Cowen reduced their price target on shares of NanoString Technologies from $65.00 to $50.00 in a research report on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.83.

NanoString Technologies Stock Down 10.3 %

The firm’s 50-day moving average is $14.17 and its 200 day moving average is $24.76. The stock has a market cap of $559.83 million, a price-to-earnings ratio of -4.32 and a beta of 2.00. The company has a debt-to-equity ratio of 1.55, a current ratio of 7.81 and a quick ratio of 7.11.

NanoString Technologies (NASDAQ:NSTGGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The biotechnology company reported ($0.86) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by ($0.32). NanoString Technologies had a negative return on equity of 68.57% and a negative net margin of 87.89%. The business had revenue of $31.08 million during the quarter, compared to analyst estimates of $30.95 million. During the same period in the previous year, the company earned ($0.62) EPS. NanoString Technologies’s revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that NanoString Technologies, Inc. will post -2.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NanoString Technologies

Several large investors have recently made changes to their positions in NSTG. DekaBank Deutsche Girozentrale grew its holdings in NanoString Technologies by 3.2% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 13,050 shares of the biotechnology company’s stock valued at $530,000 after purchasing an additional 400 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in NanoString Technologies by 15.0% during the 4th quarter. Advisor Group Holdings Inc. now owns 3,795 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 496 shares in the last quarter. Guggenheim Capital LLC boosted its stake in NanoString Technologies by 3.5% during the 1st quarter. Guggenheim Capital LLC now owns 19,410 shares of the biotechnology company’s stock valued at $675,000 after acquiring an additional 659 shares during the last quarter. Pinebridge Investments L.P. bought a new position in NanoString Technologies during the 4th quarter valued at $30,000. Finally, ProShare Advisors LLC boosted its stake in NanoString Technologies by 5.1% during the 4th quarter. ProShare Advisors LLC now owns 16,337 shares of the biotechnology company’s stock valued at $689,000 after acquiring an additional 800 shares during the last quarter.

About NanoString Technologies

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NanoString Technologies, Inc develops, manufactures, and sells tools for scientific and clinical research in the fields of genomics and proteomics in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers nCounter Analysis System, an automated, multi-application, digital detection, and counting system.

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